A “supply shock” to the global energy markets being created by North American oil production will be as transformative to the market over the next five years as was the rise of Chinese demand in the last 15, forcing operators to overhaul global investment strategies and reshape the way oil is transported, stored and refined, the International Energy Agency (IEA) said Tuesday.
Articles from Launched
George P. Mitchell, whose company successfully paired horizontal drilling with hydraulic fracturing (fracking), which launched the rebirth of onshore natural gas and oil drilling in North America, was honored Monday by Texas Gov. Rick Perry and state legislators.
Two separate mega projects to develop oil and natural gas resources in the Walker Ridge blocks of the ultra-deepwater Gulf of Mexico (GOM) have been launched by Royal Dutch Shell plc and partners ExxonMobil Corp. and Statoil ASA.
Aubrey McClendon, who founded and then took Chesapeake Energy Corp. to the top of the U.S. natural gas industry, has launched a U.S. onshore-based exploration and production (E&P) company that is near his former company’s headquarters in Oklahoma City.
Portland Natural Gas Transmission System (PNGTS) indicated last week as it launched an open season that it is seeking market support of its plan to increase capacity on a pipeline to potentially benefit more of New England and Atlantic Canada customers.
A diverse coalition of often opposing forces has launched a center to provide producers with certification of performance standards for shale development and established the first 15 standards designed to ensure safe and environmentally responsible development of the Appalachian Basin’s shale gas resources.
As another step forward to use dedicated liquefied natural gas (LNG)-powered barges in its maritime transport, Royal Dutch Shell plc recently launched the first dedicated LNG barge from a shipyard in the Netherlands for transporting liquids products on the Rhine River. Shell already has touted similar petroleum product shipping in the United States (see Daily GPI, March 6).
A diverse coalition of often opposing forces Wednesday launched a center to provide producers with certification of performance standards for shale development and established the first 15 standards designed to ensure safe and environmentally responsible development of the Appalachian Basin’s shale gas resources.
Chesapeake Energy Corp. CEO Aubrey McClendon’s controversial financing transactions “did not reveal any improper benefit” to him nor did they increases costs to the company “as a result of the overlap in financial relationships,” the board of directors said Wednesday.
Occidental Petroleum Corp.’s (Oxy) board has launched a search for a new CEO as part of the company’s management succession planning process. The board has formed a search committee to review both internal and external candidates to replace current President and CEO Stephen Chazen, 65. No timetable has been set for the completion of the search. As previously announced, Oxy Executive Chairman Ray Irani, who is in his late 70s, will retire at the end of 2014.